The partnership between Swell, AltLayer, and EigenDA represents a significant development in the realm of decentralized finance (DeFi), particularly in the context of liquid restaking protocols. Here's a breakdown of the key points and implications of this collaboration:
Introduction of Swell's Layer 2 Rollup: Swell, a liquid restaking protocol with substantial Total Value Locked (TVL), is launching its own Layer 2 (L2) rollup. This rollup will specialize in liquid restaked assets on EigenLayer, aiming to enhance scalability, reduce fees, and introduce new opportunities for Swell ecosystem participants.
Restaked Rollup Framework: Instead of a traditional rollup, Swell's L2 will adopt a "restaked rollup" framework pioneered by AltLayer. This approach leverages EigenLayer's restaking mechanism to bolster security and decentralization through Actively Validated Services (AVS), including decentralized sequencing, decentralized verification, and faster finality.
Native Gas Token and Governance Token: The chain will utilize rswETH as its native gas token, developed in collaboration with various stakeholders. Governance will be managed through the SWELL token, alongside Swell's existing tokens LST and LRT, enabling community-driven decision-making within the ecosystem.
Technology Stack and Support: The L2 will be built on Polygon's zkEVM technology on EigenDA, with support from AltLayer. Additionally, Chainlink will provide support for the ecosystem, highlighting the collaborative effort among various projects and platforms.
Founder's Vision and CEO's Perspective: Swell Founder Daniel Dizon emphasizes the expansion of liquid restaking into L2 as a natural progression for the protocol, aiming to deliver enhanced user experiences and innovation in DeFi. AltLayer CEO Yaoqi Jia acknowledges the significance of restaked rollups in enhancing network security and decentralization, expressing excitement about supporting Swell in this endeavor.
Overall, the collaboration between Swell, AltLayer, and EigenDA signifies a concerted effort to push the boundaries of DeFi through novel approaches such as restaked rollups. By leveraging existing technologies and expertise, the partners aim to drive adoption, scalability, and innovation within the Swell ecosystem and the broader DeFi space.